USD Index Price Analysis: Initial barrier appears around 102.80

DXY comes under pressure following recent tops near 102.80.
The surpass of 102.80 exposes a move to the April high at 103.05.

Pablo Piovano FXStreet

DXY comes under renewed downside pressure and revisits the low-102.00s amidst the debate between risk appetite trends and debt ceiling unease.

The continuation of the bearish move, however, appears not favoured for the time being. That said, the resumption of the uptrend is expected to clear the weekly high at 102.80 (April 10) to allow for a potential challenge of the April top at 103.05 (April 3).

On the downside, there is a formidable contention around the 101.00 neighbourhood for the time being.

Looking at the broader picture, while below the 200-day SMA, today at 105.81, the outlook for the index is expected to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	102.39
Today Daily Change	37
Today Daily Change %	-0.05
Today daily open	102.44

Trends
Daily SMA20	101.74
Daily SMA50	102.49
Daily SMA100	102.93
Daily SMA200	105.84

Levels
Previous Daily High	102.75
Previous Daily Low	102.36
Previous Weekly High	102.71
Previous Weekly Low	101.04
Previous Monthly High	103.06
Previous Monthly Low	100.79
Daily Fibonacci 38.2%	102.51
Daily Fibonacci 61.8%	102.6
Daily Pivot Point S1	102.29
Daily Pivot Point S2	102.13
Daily Pivot Point S3	101.9
Daily Pivot Point R1	102.68
Daily Pivot Point R2	102.91
Daily Pivot Point R3	103.07

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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